Calgary, Alberta – June 11, 2019 – Titanium Corporation Inc. ("Titanium" or the "Company") announced that it has issued an aggregate of: (i) 805,000 stock options to executive officers and directors of the Company in accordance with the Company's shareholder approved stock option plan; and (ii) 120,380 deferred share units of the Company ("DSUs") to non-executive directors under the Company's shareholder approved deferred share unit plan (the "DSU Plan") in settlement of $83,063 of directors' compensation for the quarter ended March 31, 2019. The DSUs are to be settled in common shares ("Common Shares") of the Company when the director retires from all positions with Titanium.
The stock options are exercisable at a price equal to $0.69. The stock options expire in five years and vest over a period of 36 months with 1/3 of the options vesting at the end of each twelve-month period following the date of grant.
In accordance with the DSU Plan, the number of DSUs issued was based on a market price of $0.69, being the higher of the closing price of the Common Shares on the TSX Venture Exchange ("TSXV") on June 10, 2019 and the 5-day weighted average price of the Common Shares for the period ended June 10, 2019.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction. The common shares of Titanium will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom.
About Titanium Corporation Inc.
Titanium Corporation's CVW™ technology provides sustainable solutions to reduce the environmental footprint of the oil sands industry. The Company's technology reduces the environmental impact of oil sands tailings while economically recovering valuable products that would otherwise be lost. CVW™ recovers bitumen, solvents and minerals from tailings, preventing these commodities from entering tailings ponds and the atmosphere; volatile organic compound and greenhouse gas emissions are materially reduced; hot tailings water is improved in quality for recycling; and residual tailings can be thickened more readily. A new minerals industry will be created commencing with the production and export of zircon, an essential ingredient in ceramics. The Company's shares trade on the TSX Venture Exchange under the symbol "TIC". For more information, please visit the Company's website at www.titaniumcorporation.com.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For further information, contact:
|Scott Nelson||Jennifer Kaufield|
|President & CEO||Vice President Finance & CFO|
|Tel: (403) 561-0439||Tel: (403) 874-9498|